Hey Neighbors! Welcome to your real estate market update for Cleveland Park, McFerrin Park, and Highland Heights. I’ve got the latest scoop on our local real estate market for the month of April 2023.Â
In April, we had a total of 7 properties closed. Now, that’s a bit lower than the past couple of months, when we saw 12 closings. But hey, let’s see what else the numbers have in store for us!
The median list price per square foot in April was $340, which is a little dip from the previous month’s $377. However, if we look at the rolling three-month average, it comes to around $367.Â
In April, the median sales price per foot stood at $339
Now, here’s an exciting one. The median days on the market dropped to just six days in April! That’s way shorter than the 12 days we saw in March and the 14 days in February. The rolling three-month average is now down to 13 days. So, properties are moving fast!
From contract to close, it took around 34 days in April. That’s pretty consistent with the previous month’s 35 days and slightly lower than the 32 days in February. So, you can expect a quick closing process with an average of 34 days.
In April, properties sold at an average of 99.37% of their list prices.Â
As for the current market, we’ve got 33 active properties in April, up from 28 in March and 26 in February. However, the rolling three-month average is 27 properties. And we had 25 pending properties, just like last month but lower than the 30 we had in February. The rolling three-month average is 28 properties. So, the market is active, with properties coming in and going under contract.
Finally, let’s talk about the average sales price. In April, it was $501,429. It’s a slight increase from March’s $498,167 but lower than February’s $620,292. The rolling three-month average price point is $559,230. So, that’s the ballpark figure we’re looking at.
And there you have it! A snapshot of our real estate market in April 2023. If you’re looking to buy or sell, these stats can give you some insights into the trends and dynamics of our neighborhood. If you have any questions or need help, please remember that I’m always here to help you navigate the market.
– Nick Irwin
615-418-0563 | nick@basenashville.com
